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Published
Dec 1, 2020
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Future Consumer CEO Rajnikant Sabnavis resigns

Published
Dec 1, 2020

​Future Group’s fast-moving consumer goods business Future Consumer has said that its chief executive officer, Rajnikant Sabnavis, has resigned from the post.
 

Future Consumer CEO Rajnikant Sabnavis resigns - Future Consumer Ltd


Sabnavis was appointed as the CEO of the company in January this year and leaves the firm after a brief stint of less than a year. The company did not give any reasons for his resignation.
 
Consequently, Sabnavis shall also cease to be key managerial personnel of the company, Future Consumer said in a statement.

Future Consumer has been going through a rough patch and reported a consolidated net loss for the quarter ended September 2020 of Rs 147 crore ($19.8 million), as against a loss of Rs 17 crore in the July-September period last year.
 
Future Consumer is the FMCG arm of the Future group, which recently sold its retail and wholesale business in a Rs 24,713 crore deal to Reliance Retail.
 
Future Consumer’s brands include beauty brands, Kara and TS, and personal care brands, Think Skin, and Puretta, among others.

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